USDA raises red meat, poultry projections
The USDA has increased expectations for 2022 U.S. red meat and poultry production.
Beef is expected to be 27.165 billion pounds, up 165 million on the month, with an average steer price of $137 per hundredweight, $2 higher and slightly greater consumption, along with steady imports and exports.
Pork was pegged at 27.515 billion pounds, down 80 million from December, with an average barrow and gilt price of $60.50, up $.50, and higher imports and consumption against lower exports.
Broiler production is seen at 45.5 billion pounds, 100 million more than a month ago, with an average price of $1.12 per pound, a $.10 jump, with higher domestic consumption canceling out lower exports and steady imports.
Turkey production is projected at 5.64 billion pounds, unchanged, with an average price of $1.255, a gain of two and a half cents, and steady imports, exports, and per capita consumption.
The USDA’s preliminary 2021 meat production totals are out later this month.